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Old 08-02-2021, 10:45   #1
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Question US Citizen Buying a Boat in EU

We are looking into Buying a boat located in Portugal. The VAT has been and it's wired to take 110-240v.

The plan is to keep the boat there for 2 years and sail the Med and then join the ARC in November and bring her across.

The questions we have are:
1) Can we keep her in the EU for as long as we want since we're not citizens? We don't plan on living on her yet so we would go back and forth and have another couple that would also go back and forth so the boat is never along.

2) VAT has been paid but do we have to move the boat out of the EU within a certain amount of time after Buying? If so, how much time do we have?

3) I assume we keep EU flag until we're ready to sail her across? Yes? No?

4) Where do you suggest we flag the boat once we bring her across? We would like to flag her in the US, but have heard there are certain states that require annual taxes? And others don't allow insurance due to hurricanes? Suggestions?

5) Would we have to pay import taxes once we flag her in the US? If so, what does that run?

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Old 08-02-2021, 11:28   #2
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Re: US Citizen Buying a Boat in EU

I can't answer all your questions, but some...

If you keep a boat in the USA some (not most) states will collect annual tax on the boat. The state really doesn't care about the flag state, if the boat stays in their waters, they want their money.

You do not have to pay import duty when you file the documentation for the vessel with the USCG. You owe import duties once you bring the boat into US waters. My recollection is the number is about 1.5%, but someone else will likely have a more up to date version of that.

Process and procedures:
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Old 08-02-2021, 11:35   #3
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pirate Re: US Citizen Buying a Boat in EU

No worries for her staying in the EU.. VAT has been paid as you say so it can stay as long as you want however, you and your friends will be limited to 90 days in, 90 days out routine as is normal for visas.
Re flagging, you can flag her US no worries I would think, at least as far as the EU is concerned.. however Re tax you guys are a bit grabby,..
Most countries one does not pay any taxes till the boat enters the country so I will leave that to a fellow countryman to answer.
Make sure you get documention to prove VAT has been paid when your completing the purchase.

You can't beat a people up for 75 years and have them say.. "I Love You.. ".
"I am not less life-loving than you are.
But I cannot sell my birthright, nor am I prepared to sell the birthright of the people to be free." Nelson Mandela.
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